Analysts Set Cenovus Energy Inc (NYSE:CVE) PT at $36.25

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $36.25.

Several equities analysts have recently weighed in on CVE shares. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, July 30th. Raymond James Financial lowered shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Lake Street Capital set a $36.00 price objective on Cenovus Energy in a research report on Wednesday, May 13th. Weiss Ratings upgraded Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Cenovus Energy in a report on Wednesday, May 13th.

Hedge Funds Weigh In On Cenovus Energy

A number of hedge funds have recently bought and sold shares of CVE. J.W. Cole Advisors Inc. lifted its holdings in shares of Cenovus Energy by 3.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 500 shares during the period. Gateway Investment Advisers LLC grew its holdings in shares of Cenovus Energy by 0.6% in the fourth quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock worth $1,590,000 after acquiring an additional 523 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Cenovus Energy by 0.9% in the fourth quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock worth $1,104,000 after acquiring an additional 565 shares during the period. OLD National Bancorp IN increased its position in Cenovus Energy by 5.2% during the first quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 618 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Cenovus Energy by 24.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at $32.17 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $59.50 billion, a P/E ratio of 12.37 and a beta of 0.34. The stock’s 50 day moving average is $27.93 and its 200 day moving average is $26.60. Cenovus Energy has a twelve month low of $15.63 and a twelve month high of $33.40.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The business had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts predict that Cenovus Energy will post 3.2 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. Cenovus Energy’s dividend payout ratio (DPR) is 24.62%.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.